08th Nov, 2019
Denave, Team, Designation
In parallel with Industry 4.0, we are witnessing unprecedented changes in the retail landscape. Retail 4.0 is the term used to describe the transformation that’s impactingthe retail industry at a dramatic pace. The two drivers of Retail 4.0 are technological advancements and ever-growing expectations of the customers. In a digitally-enabled world, customers are savvier, more demanding and fickle. As the shift from pure brick-and-mortar to omni channel gathers pace, customers are leveraging the convenience of shopping anywhere, anytime and, in turn, expecting retailers to deliver differentiated experiences.Today’s retail sector is contending with consumers who have more spending power but low brand loyalty which has led to shrinking product and trend life cycles.